What is defined as innovation?

Innovation is defined as the introduction of new ideas, products, or processes. This emphasizes the element of novelty and creativity essential in the concept of innovation, which is not limited to just refining what already exists. It encompasses a broader scope, including groundbreaking inventions or new methodologies that significantly change how things are done or bring fresh solutions to market.

For example, when a company creates a completely new technology, introduces a novel service, or reimagines a business model entirely, it is responsible for innovation. The focus here is on thinking outside the box and bringing forward advancements that have the potential to transform industries or consumer experiences.

The other options focus on aspects that are related to improvement or efficiency, but they do not capture the essence of innovation as the introduction of something fundamentally new.